After ex-chairman Michael Ying Lee- yuen, Esprit Holdings could be set to welcome some more billionaires as shareholders.

Shares of the ailing fashion brand shot up as much as 5.2 percent amid rumors that CC Land chairman Cheung Chung-kiu, pictured, joined the rights issue last month. The native of the southwestern mainland city holds SAR residency and has extensive networks in both places.

It is not surprising that Cheung - nicknamed "Li Ka-shing of Chongqing" - should appear in the shareholders' list as he has done business with current Esprit chairman Raymond Or Ching-fai, who is also boss of China Strategic.